Recent content by malpass

HSBC take 100% of rental income . Rental can be assessed at 3.5% of property value or by providing rental statements or lease agreement, Servicing is based on actual rate for most loans and negative gearing is taken into consideration therefore borrowing capacity is higher than most...

Hi All, Just wondering what the procedure is when changing ownership of a property in NSW . Joint tenants (husband and wife), husband is paying out ex wife and bringing his brother on title in a 70/30 split,tenants in common. What costs are involved and does the husband need to pay stamp...

Thanks for the information guys, I just realised I should have clicked onto the 'Innovative Techniques' section as there are a few threads on wrap finance. Cheers Malpass

Hi All, Just want to get members thoughts on wrap finance. How does it work, is it legal in most states. I have read a little bit about it but still don't see the benefit of this investment strategy, if you can call it a strategy either short or long term. The names Rick Otton and Steve...

Hi emw, If a guarantor is an option enquire about RAMS Fast track home loan, which allows you to borrow upto 110% of purchase price (105% to purchase, 5% to consolidate debts). This is a policy rather than product so it applies to all their full doc loans, therefore you can get a great...

Hi Plan, Even though you are based in Brisbane give Bridgecoast Finance a call on 02 43231975 (Gosford NSW) and ask for Dario, this guy knows his stuff when it comes to any commercial venture that requires funding. He loves a chat , good opportunity to pick his brain and discuss finance...

Hi All, Wouldn't it be too risky to tell the bank that the purpose of the loan is for investment and therefore consider rental income, reason being lenders will request the original stamped transfer at settlement which will be stamped exempt. If the settlement clerk or bank officer picks...

Hi Nathan, If parents are needed for serviceability but you want to leave them off the title, look at the CBA family equity product. Guarantors can assist with servicing or security or both. You and your wife are the mortgagors and debtors , parents become the guarantors, keep in mind...

Thanx for the info Rolf. Cheer Malpass

Hi all, In regards to a previous thread I read it mentioned major banks having waived the requirement for 5% genuine saving. Can someone let me know which banks (I know Homepath is one lender) ,what type of rate and does it mean the mortgage insurers have changed their policy as well. The...

Hi Pulse, Citibank Commercial have competative rates for commercial deals, you can ring Michael McParland and run the deal past him ph 02 82251369. Quite a knowledgable guy when it comes to commercial lending. All the best Malpass

Hi All, Just want to get people's thoughts on doing cosmetic renovation's in today's market. My brother and I have just renovated an investment property, a simple cosmetic reno job, new kitchen, bathroom, painted inside and outside and a bit of landscaping.Kept cost to a min by doing most of...

Thanks Chook, appreciate your thoughts. My wife and I have looked at buying vacant block in Vineyard Grove estate, quite a nice area but we might wait for next release to see if prices drop. Local agents have told us we would have no problems renting out a brand new home in the 'prestige...

Hi All, Just like to get peoples thought's on buying investment properties in the Hunter Valley region (NSW) especially the Cessnock and Kurri Kurri area's.I have heard it's a growing area in terms of population and infrastructure plus rental returns are quite good compared to Sydney metro...

Hi All, I recently considered buying an investment property but did not proceed because the agent was too pushy, he wanted me to place a holding deposit of 0.25% which I said I was not prepared to do because I wanted to seek independent legal advice from my conveyancer. He then said how...